KKR raises capital for opportunistic property fund targeting Europe

KKR has raised $739m (€652m) for an opportunistic real estate fund targeting Europe.

The KKR Real Estate Partners Europe vehicle is focused on opportunistic investments in Western Europe.

Ralph Rosenberg, global head of KKR Real Estate, said Europe provided an “attractive real estate investment environment”.

The company, which has so far invested $1.3bn in the UK, Belgium, Italy, Germany, Ireland, Spain and France, said public pension plans, insurance companies, endowments, private banking platforms, family offices and individual investors had backed the fund.

Six assets have been bought to seed the fund, according to KKR.

The fund may make investments in equity and debt securities.

The fund will look to make investments with the intent of controlling or influencing real estate assets or companies.

In the case of debt investments, KKR said it would look to control the debt class or influence the resolution of real estate restructurings.

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